Karan Virwani, Kunal Shah and 4 Other Startup CEOs Invest in a Real Estate Company

• CEO of WeWork India Karan Virwanic† CRED‘s Kunal Shah† mother earth‘s Varun Alagh, Droom’s Sandeep Agarwal and OfBusiness’ Nitin Jain took part in the round.
• PropReturns was founded in 2020 by BITS Pilani graduates Kenish Shah, Jayant Panwar and Somil Mathur.
• PropReturns plans to expand its footprint to Pune, Hyderabad and Bengaluru, from Mumbai and Delhi NCR.

Some of India’s greatest entrepreneurs like: WeWork IndiaThe CEO of Karan Virwani, Kunal Shah of CRED, Varun Alagh of Mamaearth, Sandeep Agarwal of Droom and Nitin Jain of OfBusiness have invested an undisclosed amount in the real estate investment platform PropReturns.

Gokul Rajaram, board member of CoinBase and Pinterest, also participated in this round.

PropReturns was founded in 2020 by BITS Pilani graduates Kenish Shah, Jayant Panwar and Somil Mathur. The company lists rent-generating commercial properties, lots, distressed opportunities, real estate investment trusts (REITS), and real estate debt.

“At PropReturns, we solve this by giving investors access to the real estate’s curated offerings and market trends, enabling them to make an investment decision backed by data. Being a marketplace, users can invest in different asset classes based on of their investment philosophy: commercial, parcels, REITs, real estate debt, etc,” said Kenish Shah, co-founder of PropReturns.

It plans to use the funding to scale quickly by adding more asset classes. The investment platform will also look at increasing its investor base and partnering with more channel partners, brokers, developers and property owners.

PropReturns plans to expand its footprint to Pune, Hyderabad and Bengaluru, from Mumbai and Delhi NCR. It is also looking to expand its technology team to provide deeper analysis and market trends.

“In just one year of operation, PropReturns has executed transactions worth over Rs 100 crore through the platform. Our execution and vision for PropReturns has helped us onboard leading angel investors, founders and real estate veterans in this strategic round, all of which are on aligned with our business,” said Jayant Panwar, co-founder of PropReturns.

The company raised $1.2 million in funding in December 2021 from Y Combinator, Soma Capital and Goodwater Capital.

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